Newcore Capital, a UK-based social infrastructure real estate investment manager, has acquired the long-term leasehold interest in the Welcome Break motorway service area (MSA) at South Mimms.
Newcore has invested an undisclosed amount on behalf of its latest value-add fund, Newcore Strategic Situations V (NSS V), to acquire the 11-acre MSA asset, known as the UK鈥檚 largest electric vehicle (EV) Hub.
The 70,000sqft site, including amenity buildings, restaurants and a hotel, is leased to Welcome Break until 2036. The ground rent is 拢1.6m per year and is subject to market review in February 2026, Newcore said.
Harry Savory, CIO, Newcore Capital, said: 鈥淲e are delighted to have purchased the service area at South Mimms for NSS V. It is a key strategic holding in UK transport infrastructure; it has a well-established trading position and is virtually unopposed from competition along the northern part of the M25.
鈥漈he site is uniquely positioned to capitalise on the transition towards EV and this will be key to delivering strong future performance.鈥�
Hugo Llewelyn, CEO, Newcore Capital, said: 鈥淭he acquisition of South Mimms MSA follows an active summer for our latest value-add vehicle [NSS V], with planning consent secured for new childcare provision and residential accommodation, as well as a leasing agreement for a specialist education provider.
鈥淥ne of the additional benefits of investing in social infrastructure-related real estate is the positive impact our assets can have, whether that is supporting the decarbonisation of our transport system or providing much needed childcare or educational services.鈥�
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